i got atleast 25 messeges yesterday,saying that tomorrow it will go upto 1000 sensex points,i sent only one liner....where were all these guys in oct-08,,,where were they in march,,,?? they all were calling 1800 nifty ,,,and in march all were calling the rise as a simplr bear market rally,all gorgot one very simple commonsense fact that markets ALWAYS discountS future...for major economical turnings market discounts future 6 months to 1 year ahead.and today morning,(its too early though),singapore nifty is being traded at 4053...A HUGE 368+,this will be a massive gap up opening,if it realy happens.and now after a rally from 2535 to 4000,,i DONT think any analyst will be saying that this is a bear market rally.
the fact is that ,,,even this (market discounts future phenomenon) have its limits...u have to learn to apply it ,sometimes not the 100% portion of NEWS or FUTURE EVENT is discounted in prices ,but we have to keep in mind that there may not be a MAJOR FOLLOW UP NEWS to fuel the markets up and up
so all in all ...i have over the yrs came to conclusion that instead of guessing ,,,we must and must learn to let the charts speak,,and we have to listen them.
on 29th march ,when nifty was just around 2900,i wrote, THAT LOOKING AT THE STRENTH OF THIS RALLY JUST BEFORE THE RESULTS, WE CAN PRESUME THAT A STABLE GOVT. WILL COME TO POWER AND THERE WILL BE NO PLACE FOR MAYAVATI AND SO CALLED THIRD FRONT...the reality is ,,there is INFACT no place for mayavati and third front.
how could i was able to write it ?? ,very simple commonsense logic..charts reflects mass psychology, and answers to 2 questions are same, who votes ??and who trades ?..THE ANSWER IS COMMON MAN.
MY SALUTE TO THE GREAT SUBJECT OF TECHNICAL ANALYSIS AND THE INDIAN COMMON MAN !!
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